MW: S&P affirms Denmark's AAA rating, outlook stable
By William L. Watts
FRANKFURT (MarketWatch) -- Standard & Poor's Ratings Services on Wednesday affirmed Denmark's AAA credit rating and said the outlook on the country's status is stable. S&P said the rating reflects its view of the government's "longstanding commitment to fiscal discipline and growth-oriented macroeconomic policies, which have helped to put the country in a net external asset position." The Danish government embarked on a round of fiscal stimulus after elections in 2011, including an acceleration in public investments in 2012 and 2013, S&P noted. The budget deficit is forecast to widen to 4.6% of gross domestic product in 2012 before declining to 3% next year. The stable outlook reflects expectations that "the wealthy and diversified Danish economy will remain resilient to most foreseeable external and internal shocks," S&P said.
